McKesson (NYSE:MCK) Price Target Raised to $642.00

McKesson (NYSE:MCK) had its price target lifted by Morgan Stanley from $612.00 to $642.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

MCK has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Leerink Partners lowered their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Citigroup upped their price target on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $650.14.

McKesson Stock Up 1.4 %

Shares of McKesson stock opened at $579.22 on Tuesday. McKesson has a 12-month low of $445.06 and a 12-month high of $637.51. The firm has a market capitalization of $73.53 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. The stock’s fifty day moving average is $569.93 and its 200-day moving average is $562.95.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the company earned $6.23 EPS. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. Analysts expect that McKesson will post 32.73 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On McKesson

A number of large investors have recently added to or reduced their stakes in the stock. Distillate Capital Partners LLC lifted its stake in shares of McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after buying an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp lifted its position in McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after acquiring an additional 133 shares during the period. Vaughan David Investments LLC IL acquired a new stake in shares of McKesson in the second quarter valued at about $238,000. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of McKesson by 2,143.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock worth $851,000 after purchasing an additional 1,393 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.